Chinese Army spotted along LoC in Pak-occupied Kashmir

March 13, 2016

Srinagar, March 13: After frequent incursions in Ladakh area, Chinese People's Liberation Army (PLA) troops have been spotted at forward posts along the Line of Control (LoC) on the Pakistani side of Kashmir, ringing alarm bells in the security grid.chinese-army

The Army has spotted presence of senior PLA officials at the forward posts opposite Nowgam sector in North Kashmir after which some intercepts of Pakistani army officers suggested that the Chinese troops have come to create some infrastructure along the LoC, sources in the know of developments said today.

Army has officially maintained complete silence on the issue but have been constantly updating various intelligence agencies about the presence of PLA troops along the Line of Control, the sources said.

The PLA troops were first spotted in the later part of the last year and ever since their presence was witnessed opposite Tangdhar sector as well. In this area, Chinese government-owned China Gezhouba Group Company Limited has been building a Jhelum-Neelum 970 MW Hydel power project.

The hydel project is being built in response to India's Kishanganga power project being built in Bandipore of North Kashmir. The Indian project is designed to divert water from the Kishanganga River to a power plant in the Jhelum River basin and will have an installed capacity of 330 MW. Construction on the project began in 2007 and is expected to be complete this year.

The intercepts also suggested that Chinese PLA would be digging some tunnels in Leepa Valley, located in Pakistan-occupied Kashmir (PoK), to build an all-weather road which will serve as an alternate route to reach Karakoram Highway.

The visit by PLA officials is seen by experts as part of Beijing's 46 billion dollar China-Pakistan-Economic Corridor (CPEC) under which Gwadar port in Karachi is linked to Chinese Xinjiang province through Karakoram highway, an area under illegal occupation of China.

As the CPEC project was given final shape, India had last year registered its protest against the presence of Chinese troops in Gilgit and Baltistan, an area in PoK, saying that it was unacceptable to India.

In the meantime, some of the experts in the nation's security grid have been giving serious thoughts to the presence of PLA in close proximity with Pakistani army officials. Chinese officials have maintained that CPEC was an economical package to link Asia with Eurasia.

Srikanth Kondapalli, Professor in Chinese Studies at Jawaharlal Nehru University, who has been part of think-tank on Indian policy towards China, feels that the over growing presence of Chinese PLA was a cause of worry for India.

"What we know is that China is going to raise three divisions of its PLA under a local name in PoK that will guard the Chinese interests in occupied Kashmir. One needs to understand the game plan of Beijing," he said.

Reports emerging from PoK were suggesting that PLA under a local name will establish a security wing in the PoK so that India does not protest. The new three divisions, around 30,000 men, will be deployed in and around the installations built by the Chinese firms, the sources said, adding this way Beijing can also justify its presence along the LoC in northern part of Kashmir.

Comments

ali
 - 
Sunday, 13 Mar 2016

Indian media will not highlight this issue, because our current government is not able to face stronger countries like china. They can fight against poor countries like Pakistan, Bangladesh or Nepal

PK
 - 
Sunday, 13 Mar 2016

Instead of fighting our own indian. the Cheddiwalas should go there and show their patriots to the country by defending from chinese advancement..

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Agencies
March 6,2020

New Delhi, Mar 6: After Yes Bank was placed under moratorium, digital payments were impacted as PhonePe, which depends on the cash-strapped lender for its transactions, could not operate.

It can be noted that the bank's own net banking facilities have not been operational since last evening. Other fintech operators who rely on Yes Bank to settle their transactions are also down.  “We sincerely regret the long outage. Our partner bank (Yes Bank) was placed under moratorium by RBI. Entire team's been working all night to get services back up asap (as soon as possible),” the app's chief executive Sameer Nigam tweeted early in the morning.

PhonePe, one of the country's largest digital payment platforms, is dependent on Yes Bank to process its transactions.

He added that the app hopes to be live in a “few hours”.

Yes Bank placed under a moratorium Thursday evening, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.

Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.

For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.

He added that the app - one of the most popular interfaces for UPI transactions - hopes to be live in a “few hours”.

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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Agencies
June 21,2020

New Delhi, June 21: Diesel prices rise to record high after 60 paise hike in rates, petrol up 35 paise; rates up by Rs 8.88 and Rs 7.97 in 15 days.

Petrol price in Delhi was hiked to Rs 79.23 per litre from Rs 78.88, while diesel rates were increased to Rs 78.27 a litre from Rs 77.67, according to a price notification of state oil marketing companies. 

In Bengaluru, petrol will be costlier by 37 paise at Rs 81.81 per litre, while diesel will cost 57 paise more per litre at Rs 74.43.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

The 15th daily increase in rates since oil companies on June 7 restarted revising prices in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to a new high. The petrol price too is at a two-year high.

Over 63 per cent of the retail selling price of diesel is taxes. Out of the total tax incidence of Rs 49.43 per litre, Rs 31.83 is by way of central excise and Rs 17.60 is VAT. 

Petrol in Mumbai costs Rs 86.04 per litre and diesel is priced at Rs 76.69.

Prior to the current rally, the peak diesel rates had touched was on October 16, 2018 when prices had climbed to Rs 75.69 per litre in Delhi. The highest-ever petrol price was on October 4, 2018 when rates soared to Rs 84 a litre in Delhi.

When rates had peaked in October 2018, the government had cut excise duty on petrol and diesel by Rs 1.50 per litre each. State-owned oil companies were asked to absorb another Re 1 a litre to help cut retail rates by Rs 2.50 a litre.

Oil companies had quickly recouped the Re 1 and the government in July 2019 raised excise duty by Rs 2 a litre.

The government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel. The two hikes gave the government Rs 2 lakh crore in additional tax revenues.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in the retail rates that was warranted because of a decline in international oil prices to two-decade lows.

International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them.

In 15 days of hike, petrol price has gone up by Rs 7.97 per litre and diesel by Rs 8.88 a litre.

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